The Nigerian Council of Registered Insurance Brokers has drawn a line of distinction between its members and unidentified single broker who was alleged to undermine the no premium no cover rule.
A statement by the corporate affairs manager, NCRIB Mr. Dele Ayeleso, said a recent national newspaper report captioned “Insurance Brokers Undermine No Premium No Cover Rule” was an attempt to malign its members and discredit the NCRIB based on an alleged and unreported misconduct to the disciplinary panel of the Council.
While not condoning the alleged act, the Brokers body said the reporter did not go further to seek the opinion of NCRIB to give the report a balanced presentation.
NCRIB comments, “While this act, if true, is totally condemned by the Council of NCRIB, we wish to state appositely that no duly registered member of the NCRIB will engage in such unprofessional act as our members are constantly trained on professionalism and there strong and potent investigation and disciplinary panels in place to guard against unwholesome, unprofessional and unethical practices, if found amongst its members.
“While not wishing off the newspaper report, it is a bit of concern that the so called insurance brokers were not unveiled by the reporter, thus making it near impossible for the Council to identify and call such culprit to order.” Besides, the statement said it was distasteful that the news report failed to identify the alleged broker and instead threw a net to drag other brokers in, claiming there was mischief intent benign the report.
Insisting it is committed to ensuring a trustworthy insurance industry; it clears, “We take this opportunity to appeal to underwriting firms in case of future occurrence, to first consider making a formal report of such erring broking firms to the Council, in order to trigger the disciplinary panel towards bringing such firms to book, if found culpable.”